14 Langton Avenue

Mareeba QLD 4880

The first address to Inspect: www.4880.com.au Open for Inspection 24-7.
GET THE RIGHT MARKET PRICE FOR YOUR HOME:
If you are contemplating selling your property, put some energy and excitement into your marketing campaign, call Aurelia Rogato
0418 183 555 to make sure your property achieves the correct market price.
BUILDING TO $51M TOP MARK July 2007
Building approvals have hit $51 million-plus in Mareeba Shire, a 40.5 per cent increase on last year.
Mayor Mick Borzi said yesterday the unprecedented building activity had spread through all parts of the shire. “More and more people are coming to invest in the benefits of our affordable land, more conducive climatic conditions, access to water, power and transport,” he said.
“This, and the positive attitude that exists throughout the shire, is the powerhouse behind our increasing strong local economy and overall shire potential.”
HOUSE PRICES SOARING
A massive rise of $60 000 in the median price for a house in Mareeba Shire has stunned experts.
In the last financial year values soared from $175 000to $235 000, making the shire the second fasted growing in the state, the latest interim figures from Real Estate Institute of Queensland show.
Across all of Queensland, Mareeba’s 34.3 per cent gain was behind only Mt Isa, which recorded an astonishing 47.1% growth in price in the period between July 2006 and June 2007.
Atherton’s annual gain of 20% , to $285 000, put it well inside the top 10 growing regions and proved it was not just at Mareeba where the Tableland was booming.
Nearby Johnstone Shire also had a stellar year posting a 27% gain while Cook’s was 21.9%. REIQ Far Northern zone chairman Chris Gay was amazed when he learned of the size of the annual gain in Mareeba.
$60 000 in year is huge increase,” he said. “That is just outstanding.”
Mr Gay said while it was great news for those in the market, the rises would have a dramatic affect on first home buyers.
But he said that with Mareeba house prices rising from $120 000 to $235 000 in the past five years, and with no reason to think there was any sign of a slump in sight, perhaps now was the time to buy.
“We are certainly not seeing any slow down and interest rates (rises) do not seem to have affected the market,” Mr Gay said.
He put the dramatic rises in Mareeba down to simple supply and demand.
But given the number of sales over the year Mr Gay questioned if there was enough supply of established houses and land to meet demand. “You do not get a 34% increase a year unless it is demand driven,” Mr Gay said.
“With such a big increase demand has to be outstripping supply.” In comparison to Atherton, which has a higher median price, Mr Gay said Mareeba had started off a lower base. “I think Mareeba has been playing catch-up with Atherton,” he said.
However Mr Gay said that Atherton, based on huge leap of 35.9% in the median price for the June quarter, “maybe surging again”.
But he warned that due to the lower number of sales over a quarter, the most accurate way of judging how a market was performing was to look at the annual median figures for a local government area.
* The median price is not the average price. The median is the mid point price in the total number of sales. For example, if 100 properties are sold, the median is the price paid fir the 50th.
MAREEBA AREA PROFILE
Invest and become part of the prosperous Mareeba Shire, a rural community where opportunity is only limited by your imagination.
Shire Activity: Since January 2005, council has approved subdivision of 786 urban lots and 117 rural lots.
Population of Mareeba in 2002 was 18 579.
Age Structure:
0-14years 21.7%
15-64years 65.7%
65 years and over 12.6%
Median Age: 37 years
Median Weekly rent: $200pw
In general, people in Mareeba work in a professional occupation.
Currently the median sale price of houses in the area is $192,000.
The average temperature of Mareeba is 29 degrees, with the average rainfall being 903 mm per year and an elevation of 417 metres.
Mareeba Shire comprises several townships covers 52,585 square kilometres and is one of the largest in Queensland. Almost the size of Tasmania. The Mareeba Shire also includes Dimbulah, Chillagoe, Kuranda, Mt Molloy, Julatten and Irvinebank.
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